In the world of online financial transactions, there is an increasing need for detecting fraudulent transactions. Current fraud detection methods may cancel particular transactions involving a stolen credit card, or may identify fraud based on a purchase unsuitable to a user profile. However, these technologies generally fail to address subtle cases of fraud, where the transaction itself may appear genuine.
There is a need for a method of detecting fraud in a more accurate manner, e.g., a detection of fraudulent transactions that are subtle and almost identical to genuine transactions using available computing power, storage capacity and retrieval speed.